Busting Insurance Marketplace Myths for 2024

Busting insurance marketplace myths for 2024. Can a company or organization obtain reliable risk and insurance budgeting guidance. Liability claims costs rise an average of 16% and economic inflation of 4%, corporate verdicts are going thermonuclear and reputational risks are paramount. The storm season was light, and the rating agencies are providing a stable outlook on the industry, how does this translate to the Property market? Our sponsor lead session will navigate these areas and discuss how AI interplays within each area.

Join RIMS Washington and Risk Managers, Sara Kern – Port of Tacoma and Laura Devine – Costco and a panel of Underwriting Leaders from Liberty Mutual as we discuss the realities of today’s challenging landscape, provide an update on current insurance market trends, emerging risks and identify key considerations for the path forward.

In addition, this panel discussion will discuss key considerations around evaluating risk and setting realistic expectations for the current market conditions and potential impact on budget.

This course is approved by the Washington Office of Insurance Commissioner for 1 hour of CE credit. (CE Course Number: 629640)

Pricing:

• RIMS WA Chapter Members: no charge
• Non-Members: $15.00

Are you unsure if you are a member of the RIMS WA Chapter or want to become one? Please reach out to: membership@warims.org

Speakers:

• Sara Kern, Risk Manager – Port of Tacoma, The Northwest Seaport Alliance
  As the Risk Manager for the Port of Tacoma and their Joint Venture, The Northwest Seaport Alliance (NWSA), Sara oversees all Risk Management functions including workers’ compensation, risk transfer, loss prevention, claims, risk financing, and insurance. The Ports of Seattle and Tacoma jointly operating as the NWSA is fourth largest container gateway in North America, directly supporting 20,000 jobs and nearly $2 Billion in labor income.  Prior to her current role Sara held positions with the Cities of Tacoma and Seattle as well as the Port of Seattle. She holds a BA from University of Puget Sound and an Executive MBA from Seattle University along with her ARM and CPCU designations. Sara serves as a Board Member for the Washington State RIMS Chapter and is a Past President of the chapter.
• Laura Devine, Insurance Manager – Costco
  Laura Devine is an experienced Risk Management professional with over 25 years in the industry. She joined Costco Wholesale Corporation as an Insurance Manager and is responsible for managing their global insurance portfolio. Her prior experience includes Nike and Airborne Express, with duties that included global insurance placement, financial accounting, and captive management. She lives in Redmond with her husband and three kids. When she’s not at a soccer or baseball game, she is probably running. She has completed over 120 marathons and ultra distance races.
• Joann Gomez, Division Vice President, Risk Management – Liberty Mutual
  Joann is responsible for the management and performance of Large Account Casualty operation in California, Pacific Northwest and Mountain States for Liberty Mutual.  She leads a team of experienced underwriters to collaborate with Agents & Brokers and provide solutions to complex clients.  Her team is responsible for workers compensation, general liability and automobile coverage and alternative risk structures helping large clients to embrace today and prepare for tomorrow.Prior to this, Joann was the regional vice president leading Liberty’s Middle Market team in the Southern California and Mountain Region.  She was responsible for the underwriting and underwriting support operation and overall underwriting profit & growth on property and causality lines. Joann joined Liberty Mutual as part of the underwriting foundation program in 1998 after graduating from University of California, Berkeley with dual Bachelor of Arts in Economics and Political Sciences of Industrial Society.  During the time with Liberty, she completed her Chartered Property Casualty Underwriter (CPCU) profession designation in 2003 and earned the Executive Master of Business Administration from St. Mary’s College in 2007.Chris Eastman is the Chief Security Officer for a private investment firm and is responsible for developing and maintaining a sustainable risk governance framework that directly supports business operations. Areas of direct supervision include corporate physical security, executive protection, employee journey management, protective intelligence/threat management, direct investment risk evaluation, office services, facilities, and office safety.
• Tom Collins, AVP Northwest Regional Manager – Liberty Mutual Environmental
  Tom manages Liberty Mutual’s suite of pollution liability products for the Northwest US region including Northern California, Northern Nevada, Oregon, Idaho, Washington, Alaska and Hawaii. Tom joined Ironshore/Liberty Mutual in 2016 and has been underwriting / managing environmental risk in various roles since 2011. Tom graduated from Colorado College with a BA in geology in 2005 and went on to work in municipal water treatment and environmental consulting before transitioning into Pollution Liability Insurance.
• Jennifer Hennessy, Underwriting Director, Major Accounts Property – Liberty Mutual Environmental
  Jennifer Hennessy is Director of Underwriting for Major Accounts, Property and Marine at Liberty Mutual. Her expertise for large limits property and lead quota share is put to the test daily supporting Underwriting teams across the country. She stays in tune with the market by connecting with customers, brokers and working feedback into product and service solutions. Additionally, she is engaged with Technology and Pricing Model teams to improve functionality in our systems as they continue to evolve. Jennifer has worked in various roles of increasing responsibility across Commercial Insurance for the last 20 years and calls the West Coast her home.